BGE shareholders approved the formation of holding companyConstellation Energy Group Inc. Constellation Energy is now set tobe launched May 3, trading under the CEG ticker symbol on the NewYork Stock Exchange. Constellation Energy will be the parentcompany that holds BGE’s common stock and the common stock of allof BGE’s current subsidiaries. BGE will become a sibling to itscurrent subsidiaries and will remain regulated by the MarylandPublic Service Commission.
Shares of BGE common stock will automatically represent an equalnumber of shares of Constellation Energy common stock. Customers ofBGE and its current affiliates will continue receiving servicesthrough the same channels. BGE will remain the local utility.
The formation of Constellation Energy became possible when statelaw was changed earlier this year to allow public utilitiesincorporated in Maryland to form holding companies.
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